Global Pharmacy Management System Market Size, Share - Segmented By Application, Deployment, Size, Service, End-user Industry, and Region - Growth, Trends, and Forecast (2018 - 2023)

The pharmacy management system market is expected to register a CAGR of over 10.58%, during the forecast period of 2018-2023. The report profiles the on-cloud and on-premise providers of pharmacy management software and services, for various pharmacies.

A pharmacy management system enables pharmacists to provide efficient professional and personalized care, based on the needs and requirements of the patients, and also streamlines their workflow. The market studied is highly fragmented, with competitors entering various segments. Key players have been constantly innovating and incorporating new technologies, to gain a competitive edge and provide better services than their competitors. The healthcare industry is collaborating with the IT industry, to improve the products and services and simulate the market’s growth. Consequently, there is an increased investment in R&D, toward the development of IT for the pharmaceutical industry. The need for an efficient and automated process to provide better care is expected to augment the market’s growth prospects, during the forecast period.

Cloud-based Deployment Solution Expected to Record Significant Growth
A number of players are adopting cloud-based deployment solutions, for smooth information sharing with clients and other stakeholders. Easy access to information in remote locations using such solutions is likely to be a key factor driving the demand for commercially available cloud solutions. In addition, focus on patient data protection and the introduction of laws pertaining to it are likely to boost the market studied, over the forecast period. Due to various security lapses in web-based and on-premise deployments, the adoption of cloud-based technologies is gaining significant traction. Cloud service providers also offer solutions that cover various risks and provide assurance against data losses and thefts.

North America Expected to Account for the Largest Share in Pharmacy Management System Market
North America dominated the medication management market, in 2016. The robust adoption of IT in healthcare, technological advancement, increase in incidence of infectious and chronic diseases, and rise in number of prescriptions in the region were the key factors responsible for the region’s dominance. The United States accounts for the largest segment of the regional and global medication management systems market. This can be attributed to high awareness about new technologies, presence of a large number of small- and medium-scale players who offer medication management solutions to various hospitals and pharmacies, and shortage of primary care physicians. According to a study published in the Journal of American Medical Association, the shortage of physicians in the United States is expected to reach nearly 91,500, by 2020.

Key Developments in the Pharmacy Management System Market
Jun 2018: To improve evidence-based care in free and charitable clinics using point-of-care testing results, Becton Dickinson and Company, in association with Heart to Heart International (HHI) and the National Association of Free and Charitable Clinics (NAFC), announced six grants to select clinics in the United States. The Point of Care, Enhancing Clinical Effectiveness (PoCECE) is a multi-year initiative that provides grants to clinics that care for the underserved and vulnerable populations, across the country.

Mar 2018: Allscripts Healthcare Solutions unveiled its new electronic health record (EHR), Avenel, at the annual HIMSS conference. The mobile-first, cloud-based Avenel creates a community-wide shared patient record and uses machine learning, to reduce the time required for clinical documentation. Avenel is designed to work like an app, instead of traditional software.

Pharmacy Management System Market Major Players:
McKesson Corporation
Cerner Corporation
Becton Dickinson and Co.
GE Healthcare Inc.
Talyst LLC
Allscripts Healthcare Solution Inc.
Epicor Software Corporation
Omnicell Inc.
ACG Infotech Ltd
Clanwilliam Health Ltd
Datascan (DCS Pharmacy Inc.)
GlobeMed Ltd
Health Business Systems Inc.
Idhasoft Ltd
MedHOK Inc.

Reasons to Purchase Pharmacy Management System Market Report
Understand the impact of growth of pharmacy management software, on the market studied
Analyze various perspectives of the market studied, with the help of Porter’s five forces analysis
The segments that are expected to dominate the market studied
Regional analysis of the market studied, during the forecast period
The latest developments, market shares, and strategies employed by the major market players and key innovators
3 months analyst support along with the Market Estimate sheet (in Excel)

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This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.

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